Ajinkya Rahane invests in Proxgy’s Series A round

Proxgy, an IoT innovator specializing in safety, connectivity, and productivity solutions, has received funding from Indian cricketer Ajinkya Rahane in its ongoing $3 million Series A funding round. Other key investors in the round include Nikhil Kamath, Suniel Shetty, Vinod Duggar, and Manish Patel.

Entrackr had exclusively reported the Series A round in September, 2024. 

The Gurugram-based company has also raised Rs 16 crore ($2 million) in a pre-series A round led by LetsVenture, Planify Angel Fund, Mach Tech Fund, and others in October last year.

The new proceeds will be used to scale operations, expand Proxgy’s product offerings, and strengthen its international presence. 

Founded by Pulkit Ahuja in 2020, Proxgy is focused on developing innovative IoT-based solutions. The company also offers smart wearables and safety products designed to enhance workplace safety and efficiency, particularly for blue-collar workers. 

The Gurugram-based company has represented India globally, winning the European Product Design Award, Most Innovative Product at CES Las Vegas, and Most Promising Start-Up at GITEX Africa. 

The firm claims to have reported a 800% revenue growth in FY24, with a Rs 50 crore order book.